Gold prices rise on dollar weakness ahead of Fed chair's Jackson Hole speech

Gold prices climbed on Thursday as concerns over a weakening dollar persisted. Spot gold gained 0.8 percent to $4,630.09 per ounce, while U.S. gold futures rose 0.7 percent to $4,685.50. Markets are awaiting Federal Reserve Chair Kevin Warsh's address at the Jackson Hole symposium for signals on the path of interest rates. U.S. annual inflation remained unexpectedly unchanged in July, extending the period above the Fed's 2 percent target to 65 months. Other precious metals also advanced. Silver added 1.7 percent to $69.28 per ounce, platinum rose 1.1 percent to $1,848.57, and palladium edged up 0.5 percent to $1,334.49. Gold is traditionally viewed as a safe-haven asset against economic and geopolitical risks, though rising interest rates can reduce the appeal of the non-yielding metal.